Brookfield India Real Estate Trust IPO opens tomorrow: 10 points

The shares are likely to be listed on BSE and NSE on February 17, 2021. The finalisation of the basis of allotment will be done on February 11, 2021, and the allotted shares will be credited to the applicant's Demat account by February 12, 2021.

Brookfield India Real Estate Trust (REIT), which is backed by Canadian asset manager Brookfield Asset Management will open its initial public offering (IPO) for subscription on February 3. The IPO will be open till February 5 and will be the third REIT IPO after Mindspace Business Parks REIT in 2020 and Embassy Office Parks REIT in 2019.

Brookfield aims to raise ₹3,800 crore through this issue and intends to use the funds to repay debts. (Reuters)

Here’s everything you need to know about the Brookfield India Real Estate Trust IPO:

1. The company has fixed the price band at ₹274- ₹275 per unit. The market lot size is 200 shares and the minimum application size for retail investors is ₹55,000 at the upper end of the price brand.

2. Investors can bid for a minimum of 200 units and in multiples of 200 units thereafter.

3. Brookfield aims to raise ₹3,800 crore through this issue and intends to use the funds to repay debts.

4. Brookfield is India's only institutionally managed public commercial real estate company. The initial portfolio of the company comprised of 14.0 million square feet (msf), with rights to acquire a further 8.3 msf and rights of the first offer on an additional 6.7 msf.

5. The company owns four large campuses-format office parks in Mumbai, Gurugram, Noida and Kolkata.

6. BSREP V is the sponsor of the IPO. Brookprop management services is the manager and Axis Trustee Services is the trustee to the REIT.

7. The global coordinators of the IPO are Morgan Stanley India Company, BofA Securities India, Citigroup Global Markets India, HSBC Securities and Capital Markets India. The book running lead managers to the issue are Ambit, Axis Capital, IIFL Securities, JM Financial, JP Morgan India, Kotak Mahindra Capital and SBI Capital Markets.

8. Link Intime India Private Ltd is the registrar for the REIT.

9. The shares are likely to be listed on BSE and NSE on February 17, 2021. The finalisation of the basis of allotment will be done on February 11, 2021, and the allotted shares will be credited to the applicant's Demat account by February 12, 2021.

10. In the fiscal year 2020, Brookfield REIT posted a profit of ₹15.12 crore and the company’s total income grew by 5.54%.

(With agency inputs)